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If you're a business owner with a storage facility that stores your equipment or goods it's essential that you have an appropriate business insurance in case something should happen such as a fire or flood. You'll find quite a few stories out there that should really help you make the right decision. A storage place that was employed as part of company to dispose of waste for the catering industry was destroyed in a fire in February 2010. Around $800,000 of inventory was destroyed and if you add in the worth of the building, the overall cost will be about $1,000,000. This was a profitable business that was producing a good income, but for whatever reason, the business owner did not have a business liability insurance. The business owner faced bankruptcy and could do nothing as his whole business was burnt to the ground. Nonetheless some warehouses suffer fire or flood damage that doesn't wipe out the entire building and stock. Even a tiny amount of damage could cost a considerable amount of money though, from replacing the lost inventory or equipment, to arranging the storage facility cleaning with the help of a professional industrial cleaning company. A near miss happened earlier this year when a recycling warehouse was destroyed in Chicago. Every little thing in the recycling warehouse was ruined, but a neighbouring company actually managed to get away with no damage in any way. A spray painting and panel beating company due to open the next month was in a rented property backing onto the storage place when the fire started. Luckily nothing was damaged, extremely lucky indeed because the company owner had simply no business insurance! Nonetheless even a small amount of damage could have wreaked chaos on the new business. Again, it is the expense of cleanup and stock and equipment that can hurt the bank account of a small business. A professional business experienced in builders clean, fire damage, smoke damage, flood damage, and so on needs to be employed for the clean-up operation. You'll also want to consider changing the tools you need and making up for lost stock as well as all the time that you simply will lose. It's advisable to look into a suitable insurance policy that covers you for all aspects of damage which could unintentionally occur at your storage place or business. Don't underestimate what even a tiny flood or fire could do to your company with regards to time and costs. Mandy writes about internet copywriting and anything about internet marketing to very specific niches. You can read information on Business Liability Insurance at her blog: Business Insurance.
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